WBAG:PYT

Stock Analysis Report

Executive Summary

Polytec Holding AG, together with its subsidiaries, develops and manufactures plastic components for the automotive and plastics industry worldwide.


Snowflake Analysis

Very undervalued with adequate balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Polytec Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PYT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-15.1%

PYT

-10.9%

AT Auto Components

-9.4%

AT Market


1 Year Return

-27.6%

PYT

-17.3%

AT Auto Components

-6.4%

AT Market

Return vs Industry: PYT underperformed the Austrian Auto Components industry which returned -17.3% over the past year.

Return vs Market: PYT underperformed the Austrian Market which returned -6.4% over the past year.


Shareholder returns

PYTIndustryMarket
7 Day-15.1%-10.9%-9.4%
30 Day-22.9%-7.9%-8.7%
90 Day-31.1%-15.5%-9.6%
1 Year-24.5%-27.6%-14.5%-17.3%-3.0%-6.4%
3 Year-47.7%-52.5%-30.0%-35.0%12.8%2.7%
5 Year0.06%-15.2%-20.7%-28.7%36.7%17.7%

Price Volatility Vs. Market

How volatile is Polytec Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Polytec Holding undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PYT (€6.7) is trading below our estimate of fair value (€22.66)

Significantly Below Fair Value: PYT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PYT is good value based on its PE Ratio (7x) compared to the Auto Components industry average (10.2x).

PE vs Market: PYT is good value based on its PE Ratio (7x) compared to the Austrian market (13x).


Price to Earnings Growth Ratio

PEG Ratio: PYT is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: PYT is good value based on its PB Ratio (0.6x) compared to the XE Auto Components industry average (1x).


Next Steps

Future Growth

How is Polytec Holding forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

10.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PYT's forecast earnings growth (10.4% per year) is above the savings rate (-0.1%).

Earnings vs Market: PYT's earnings (10.4% per year) are forecast to grow faster than the Austrian market (2.3% per year).

High Growth Earnings: PYT's earnings are forecast to grow, but not significantly.

Revenue vs Market: PYT's revenue (3.1% per year) is forecast to grow faster than the Austrian market (2.5% per year).

High Growth Revenue: PYT's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PYT's Return on Equity is forecast to be low in 3 years time (9.9%).


Next Steps

Past Performance

How has Polytec Holding performed over the past 5 years?

9.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PYT has high quality earnings.

Growing Profit Margin: PYT's current net profit margins (3.4%) are lower than last year (4.5%).


Past Earnings Growth Analysis

Earnings Trend: PYT's earnings have grown by 9.6% per year over the past 5 years.

Accelerating Growth: PYT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PYT had negative earnings growth (-28.3%) over the past year, making it difficult to compare to the Auto Components industry average (-12.8%).


Return on Equity

High ROE: PYT's Return on Equity (9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Polytec Holding's financial position?


Financial Position Analysis

Short Term Liabilities: PYT's short term assets (€277.2M) exceed its short term liabilities (€129.3M).

Long Term Liabilities: PYT's short term assets (€277.2M) exceed its long term liabilities (€217.7M).


Debt to Equity History and Analysis

Debt Level: PYT's debt to equity ratio (84.5%) is considered high.

Reducing Debt: PYT's debt to equity ratio has reduced from 101.4% to 84.5% over the past 5 years.

Debt Coverage: PYT's debt is not well covered by operating cash flow (11.7%).

Interest Coverage: PYT's interest payments on its debt are well covered by EBIT (8x coverage).


Balance Sheet

Inventory Level: PYT has a high level of physical assets or inventory.

Debt Coverage by Assets: PYT's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

What is Polytec Holding's current dividend yield, its reliability and sustainability?

6.29%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Polytec Holding before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company6.3%marketbottom25%1.6%markettop25%5.0%industryaverage4.2%forecastin3Years5.5%

Current dividend yield vs market & industry

Notable Dividend: PYT's dividend (5.97%) is higher than the bottom 25% of dividend payers in the Austrian market (1.61%).

High Dividend: PYT's dividend (5.97%) is in the top 25% of dividend payers in the Austrian market (4.98%)


Stability and Growth of Payments

Stable Dividend: PYT has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PYT's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.5%), PYT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PYT's dividends in 3 years are forecast to be well covered by earnings (31% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.2yrs

Average management tenure


CEO

Markus Huemer (38yo)

1.1yrs

Tenure

€440,000

Compensation

Mr. Markus Huemer has been Chief Executive Officer of Polytec Holding AG since January 1, 2019 and also serves as Chairman of the Board since January 01, 2019. Mr. Huemer served as Chief Operating Officer  ...


CEO Compensation Analysis

Compensation vs Market: Markus's total compensation ($USD482.93K) is below average for companies of similar size in the Austrian market ($USD823.18K).

Compensation vs Earnings: Markus's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Markus Huemer
Chairman of the Board & CEO1.1yrs€440.00kno data
Peter Haidenek
CFO & Director9yrs€277.00kno data
Peter Bernscher
CSO & Director1.5yrs€371.20kno data
Friedrich Huemer
1.2yrs€1.10m16.24% 22.7m
Heiko Gabbert
COO & Director1.1yrsno datano data
Paul Rettenbacher
Head of Investor Relations0yrsno datano data
Ulrike Huemer
Head of Industrial Division0yrsno datano data
Michael Pausch
Head of Product Development Composites0yrsno datano data

1.2yrs

Average Tenure

52.5yo

Average Age

Experienced Management: PYT's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Robert Büchelhofer
Member of Supervisory Board15.1yrsno datano data
Viktoria Kickinger
Member of Supervisory Board13.8yrsno datano data
Fred Duswald
Chairman of the Supervisory Board12.7yrsno datano data
Manfred Trauth
Deputy Chairman of the Supervisory Board12.7yrsno datano data
Reinhard Schwendtbauer
Member of Supervisory Board10yrsno datano data

12.7yrs

Average Tenure

67yo

Average Age

Experienced Board: PYT's board of directors are seasoned and experienced ( 12.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Polytec Holding AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Polytec Holding AG
  • Ticker: PYT
  • Exchange: WBAG
  • Founded: 1986
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: €139.892m
  • Shares outstanding: 22.00m
  • Website: https://www.polytec-group.com

Number of Employees


Location

  • Polytec Holding AG
  • Polytec-Strasse 1
  • Hörsching
  • Upper Austria
  • 4063
  • Austria

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PYTWBAG (Wiener Boerse AG)YesOrdinary SharesATEURApr 2006
P4NDB (Deutsche Boerse AG)YesOrdinary SharesDEEURApr 2006
0GOXLSE (London Stock Exchange)YesOrdinary SharesGBEURApr 2006
PYTVBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURApr 2006
P4NBRSE (Berne Stock Exchange)YesOrdinary SharesCHCHFApr 2006

Biography

Polytec Holding AG, together with its subsidiaries, develops and manufactures plastic components for the automotive and plastics industry worldwide. The company offers passenger car engine parts, including battery panels, timing belt protections, cooling water tubes, engine and water box covers, oil pans, charge-air ducts, fuel distributor rails, electronic boxes, air separator vent pipes, brake fluid reservoirs, chain adjustment systems, expansion pressure systems, cylinder head covers, intake manifolds, and crank case vents. It also provides interior parts, such as trunk load floors, cargo step protection, and trunk lid covers; and non-automotive products comprising drainage systems, transport boxes, and modules of home appliances. In addition, the company offers roof spoilers, cabin steps and tractor fenders, cabin roofs, front lids, side deflectors, bumpers, cab corners, tractor engine hoods, valve covers, and wiring inlet casings for commercial vehicles. Further, it provides trunk lids, tonneau covers, rear spoilers, and scuttle panels, as well as propeller shaft guards, mounting supports, under body shields, and aerodynamic resistance panels for passenger cars; and solar panel frames, conductor rail carriers, parabol reflectors, illumination technology, ground plates, and conveyor and storage systems for other vehicles. Additionally, the company offers original accessories, and small series parts and systems for the automotive industry; and plastic molded parts and polyurethane coatings for various industrial applications. Polytec Holding AG was founded in 1986 and is headquartered in Hörsching, Austria. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 21:55
End of Day Share Price2020/02/28 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.